Funding arb · Price arb /

CRCL

RWAall CRCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0856%/8h= −93.7% APRpaid last 24h +0.027%

Price spread now: Bitget against tradeXYZ+0.115%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.177%+$18 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.115%, 7d avg +0.093%

Together, before fees+0.166%+ Points / potential airdroptradeXYZ: Active · farm board+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.022% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.115% now, against its 7-day average of +0.093%): +$2 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 2 hours. Mind the row above: over the last 7 days funding on this pair paid +0.177%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.177% in total (about 9.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:CRCL	91.884	0.0050	pay 0.0006% / 1h	17m 27s	$69.0M	$42.1M	10x
Short	Bitget CRCLUSDT	91.990	−0.0806	pay 0.0806% / 8h	6h 17m	$16.0M	$35.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee tradeXYZbpFee BitgetbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$179.76
Price spread: +0.115% → +0.093%: $2.24
Slippage, 4 orders: −$10.24
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$217.76
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; Bitget: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy tradeXYZ live order book, 12 min ago	1.25 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.63 bp	9.8 bp −$10	16.2 bp −$162	77.4 bp −$7,743	doesn't fit

CRCL on 33 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CRCLUSDTshort	−0.0806%	8h	91.990	+0.115%	$16.0M	$35.6M	25x
Vest CRCL-USD-PERP	−0.0039%	1h	91.670	−0.233%	—	$40K	25x	as long as short
Coinbase International CRCL-PERP-INTX	−0.0008%	1h	91.700	−0.200%	$913K	$580K	10x	as long as short
Bybit CRCLUSDT	0.0000%	8h	91.910	+0.028%	$15.0M	$25.9M	50x	as long as short
RISEx CRCL/USDC	0.0000%	1h	91.933	+0.053%	$420K	$299K	10x	as long as short
Gate CRCL_USDT	0.0000%	8h	92.000	+0.126%	$7.1M	$26.8M	50x	as long as short
Variational Omni CRCL	0.0000%	8h	91.938	+0.059%	$2.4M	$3.2M	—	as long as short
GRVT CRCL_USDT_Perp	0.0000%	8h	91.730	−0.168%	$69K	$1.1M	10x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.980	+0.104%	$1.0M	$49K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0024%	1h	91.872	−0.013%	$2K	$23K	5x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH CRCL	+0.0032%	1h	91.982	+0.107%	$974K	$2.9M	10x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.830	−0.059%	$93K	$273K	10x	as long as short
Extended CRCL_24_5-USD	+0.0048%	1h	91.912	+0.031%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:CRCLlong	+0.0050%	1h	91.884	long leg	$69.0M	$42.1M	10x
Polymarket Perps CRCL-USD	+0.0050%	1h	91.862	−0.024%	$355K	$1.1M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.790	−0.102%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.730	−0.168%	$999K	$5.5M	10x	as long as short
Binance CRCLUSDT	+0.0051%	8h	91.895	+0.012%	$104.8M	$394.0M	50x	as long as short
QFEX CRCL-USD	+0.0057%	1h	91.920	+0.039%	$1.3M	$2.3M	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0060%	8h	91.890	+0.007%	$21.8M	$60.3M	50x	as long as short
Aster CRCLUSDT	+0.0060%	8h	91.949	+0.071%	$1.1M	$4.9M	20x	as long as short
Paradex CRCL-USD-PERP	+0.0074%	8h	91.964	+0.087%	$754	$740	5x	as long as short
Pacifica CRCL	+0.0100%	1h	91.977	+0.101%	$133K	$158K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.960	+0.083%	$2.9M	$1.9M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.720	−0.178%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.890	+0.007%	$916	$3K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.898	+0.016%	$4	—	10x	as long as short
Nado CRCL-PERP	+0.0153%	1h	91.894	+0.011%	$131K	$103K	3x	as long as short
Lighter CRCL	+0.0200%	1h	92.000	+0.126%	$3.0M	$2.4M	10x	as long as short
Phoenix CRCL	+0.0231%	1h	91.850	−0.037%	$27K	$92K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	92.500	+0.670%	$5K	$19K	30x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0512%	1h	91.920	+0.039%	$4K	$769K	10x	as long as short
edgeX CRCLUSDC	+0.0678%	4h	91.707	−0.193%	$23K	$268K	10x	as long as short